Petra and Tamara, the gorgeous and pampered offspring of Bernie Ecclestone, are known for their extravagant spending on everything from handbags to real estate — Petra famously bought an $85 million mansion in L.A. last year.

The daughters, ages 23 and 28, reportedly have access to their father's $4.8 billion-dollar trust, and while Bernie lets them make spending decisions on their own, he hasn't been happy with how they've squandered their inheritance.

"The kids have had access to the money," Ecclestone told The Telegraph last year. "The idea was that they'd buy super-quality property, property that would be long term, for their kids and everything else. Didn't happen. They haven't done that. So they've had access to money which they've spent."

Suri Cruise, daughter of Tom Cruise and Katie Holmes

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Katie Holmes and Suri Cruise feed giraffes (Getty Premium)

Suri has been making tabloid covers since she was born, more often than not for the attention her famous parents lavish on her.

This summer when Tom whisked Suri off to Disney World, the six-year-old stayed in Cinderella's Castle Suite — an apartment originally designed for the Walt Disney family in the Magic Kingdom that cannot actually be booked and is normally reserved for special events, according to People.

It's been reported that Suri's wardrobe is worth $3 million and includes coveted items such as a $2,140 Dolce & Gabbana red trench coat and a rack of dresses from designers like Marc Jacobs, Chloe, Burberry and Juicy Couture.

But exclusive vacations and high-end clothes aren't the only costly things in Suri's life. Mail Online recently reported that Suri's mom is planning to surprise her daughter with an eight foot, $24,000 Grand Victorian Playhouse for Christmas which comes equipped with running water, electricity, and extensive landscaping.

Five-year-old Valentina is already attending art galas in Italy, vacationing in St. Barts, and working red carpet premieres. But that's what's expected when you're the daughter of a famous movie star and a luxury goods tycoon.

The pint-sized diva is said to be full of personality and brains, just like her parents, Salma Hayek and François-Henri Pinault. She's often caught sticking her tongue out to paparazzi and can speak three languages, English, Spanish, and French.

Her father spends $50,000 a month for a $12 million Los Angeles estate held in trust in Valentina's name, according to Hollywood Life.

Justin Combs, 18, is one lucky kid: for his sixteenth birthday, his rap legend father handed over the keys to a $360,000 silver Maybach, according to US Magazine.

His lavish birthday bash, which was attended by several members of the "Jersey Shore" cast, was featured on an episode of MTV's "My Super Sweet Sixteen."

Justin may live the good life, but he's also a well-rounded teen: he's currently attending UCLA on a hard-earned football scholarship.

Emme Anthony, daughter of Jennifer Lopez and Marc Anthony

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(Venturelli/FilmMagic/Getty)

Four-year-old Emme was spotted sitting front and center at the Paris Fashion Week show in October donning more than $2,400 worth of Chanel accessories, including a $310 brooch and a $2,100 bag, according to US Magazine.

But Paris is no big deal for Emme or her twin brother Max, who are used to jetting off in their mom's private plane to international destinations such as Italy, Britain, and Spain. Most recently, the twins accompanied Jennifer to Istanbul, Turkey, when the singer performed for the first time ever.

The twins aren't only spoiled by their mom. The tots' godfather, superstar Tom Cruise, dotes on them, too and reportedly threw them a "$200,000 'Welcome to the World' christening party, complete with matching designer outfits." Rumor has it that the twins were also given diamond rattles, reports Xfinity.

Sheikh Hamdan bin Mohammed bin Rashid al Maktoum, Prince of Dubai

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(Andrew H. Walker/Getty Images for DIFF)

The 29-year-old crown prince of Dubai and son of Mohammed bin Rashid Al Maktoum, the Prime Minister of the United Arab Emirates, leads a charmed life.

Last year, she and her dad made headlines when he bought Sandy Weill's $88 million penthouse on the Upper West Side, supposedly for his daughter to use when she is in New York City.

It's the single-most expensive apartment in the Big Apple, according to the International Business Times.The 6,744 square foot pad has "10 rooms including four bedrooms, a wraparound terrace of more than 2,000 sq. feet, four bedrooms and two wood burning fireplaces."

And this is just a part-time residence. Ekaterina also has homes in Monaco and Switzerland, where she has split her time over the last 15 years.

Peter and Harry Brant, sons of Peter Brant Sr. and Stephanie Seymour

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(L-R) Harry Brant and Peter Brant, Jr. (Paul Zimmerman/Getty Images)

The 18- and 15-year-old sons of media mogul Peter Brant and former supermodel Stephanie Seymour have made a name for themselves on NYC's social scene in recent years.

They grew up on a 53-acre spread in Greenwich Conn., surrounded by art and fashion. But their expensive tastes have veered towards the flamboyant — for this year's Met Ball, which they did not actually attend, "they had planned to arrive in a gold-plated Rolls-Royce accompanied by a baby panther wearing a diamond necklace," according to a recent profile in Vanity Fair.

Until recently, the brothers flaunted their lifestyle with tweets ("Triumphant Return To Paris!! (we've missed the city of lights during the 5 days since we were last here) haha") from a shared Twitter account. But after an unsavory Twitter joke about killing the President, Peter lost his Twitter privileges, according to Fashionista.

Blue Ivy Carter, daughter of Beyonce and Jay-Z

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(ABC News)

Blue Ivy Carter, the daughter of singer Beyonce Knowles and rapper Jay-Z, was an A-lister before she was even born.

At 11 months old, she's already better dressed – and has a bigger wardrobe – than most Americans.

When she's not snoozing or soaking in style, Miss Carter jets off with her famous parents on their $39.1 million private jet or cruises around the Mediterranean on her family's $40 million super-yacht. Not too bad for a baby who can't even talk yet.

Liesel Pritzker, heiress to the Hyatt hotel fortune

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28-year-old Liesel Pritzker, best known for her feature role in the 1995 Warner Bros film A Little Princess, is one of 12 grandchildren with stakes in the enormous Hyatt hotel fortune.

In 2002, when she was a freshman at Columbia, she and her brother sued their father and other family members claiming they had been cheated out of their inheritance. The pair won a reported $560 million settlement.

Several years later she put her money to good use and spent $6.2 million to purchase a castle-like Upper West Side apartment.

But this isn't Liesel's only Manhattan spread. She also owns a $2.29 million condo near the Columbia campus. “I figured that it would make more sense to buy,” she told The New York Times. Princesses don’t rent.

Haji 'Abdul 'Azim, Prince of Brunei

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For his 30th birthday, Prince Azim of Brunei pulled out all the stops and invited A-listers like Pamela Anderson and Marisa Tomei to an enormous celebration at the Dorchester Hotel in London.

But lavish parties have always been his thing. In 2009, the billionaire playboy reportedly threw the "Party of the Year," spending over 70,000 euros on the flowers alone.

Guests can always count on leaving the Prince's celebrations with some pretty stellar party favors, including iPods, diamond jewelry, and luxury Crème de la Mer face creams.

And if you're a real bestie, he may just spoil you rotten. Mail Online reports that the Brunei Prince gifted $6 million worth of jewels to long-time friend Mariah Carey in 1996.

Anastasia Potanina, daughter of metals giant Vladmir Potanin

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(Business Insider)

The 28-year-old Russian is the daughter of Vladmir Potanin, the metals and media magnet who owns Russian versions of MTV, VH1 and Cosmopolitan magazine.

Beyond just being rich and beautiful, Anastasia was a world champion in aquabiking, which is essentially competitive jet skiing.

The heiress is also a very good skier, in part thanks to the indoor slope her father built for her at his home in Moscow.

After breaking her leg, Anastasia has quit aquabiking to pursue a career in sports management.

Brandon Davis, grandson of oil tycoon Marvin Davis

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(Andrew H. Walker/Getty Images for ART.sy)

Davis, a 32-year-old oil heir and frequent pal of Paris Hilton, is commonly in the tabloids for drug charges infractions, alleged nightclub brawls, and crude, often inappropriate humor.

He famously dated actress Mischa Barton, and then referred to her as a "heifer" on Twitter when they broke up in 2010 and was caught on tape soon after calling Lindsay Lohan "a fire crotch."

Though the personal life of this American socialite is somewhat disheveled, Davis has shown glimmers of business acumen.

In 2011, he brokered what many consider to be one of the largest real estate deals in Hollywood history, the $85 mansion deal with Berni Ecclestone's daughter Petra, according to The Daily Mail.

Earlier this year, he wound up in the hospital after a brawl with a nightlife impresario at a Manhattan club, who later told The New York Post that the prince and his entourage “were being completely obnoxious,’’ insulting the models and swigging from a $500 bottle of vodka on his table.

The Hilton sisters, heirs to the $300 million Hilton hotel fortune, are American socialites who've gained fame and (more) fortune because of their wealthy parents.

While Nicky's name has long been overshadowed by her older sister Paris, who starred in the long-running reality series The Simple Life, both women have launched numerous clothing and accessory lines that have made splashes in the U.S. and overseas.

The sisters are also known for living fabulously lavish lifestyles which include partying with celebrity pals such as Kim Kardashian and Brandon Davis, blowing through daddy's dollars on extravagant vacations to France and Aspen, and purchasing multi-million dollar houses around Los Angeles.

Samuel Irving Newhouse IV, heir to the Conde Nast fortune

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Sam is the grandson of Condé Nast chairman S.I. Newhouse and a member of one of America's most powerful media families.

Newhouse, who got married back in 2009, recently sold his TriBeCa loft for $2.7 million, $300,000 more than he paid for it several years earlier, according to The Observer. There was no mortgage filing on the listing when young Newhouse bought it, which suggests he paid cash, The Observer noted at the time.

Like other heirs of his ilk, he also appeared in the 2003 documentary "Born Rich."

Egypt Daoud Dean, son of Alicia Keyes and Swizz Beatz

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(James Devaney/WireImage)

The son of singer Alicia Keyes and rapper Swizz Beatz is already living the good life and he's barely two years old.

He's been spotted rocking courtside seats with mom and dad at various New York Knicks game and regularly flies off in Swizz Beatz's private jets to destinations like Hawaii and London.

When he's not cheering on his favorite team or vacationing in style, Egypt is said to have playdates with other celebrity babies like singer Mariah Carey and rapper Nick Cannon's twins, Monroe and Moroccan.

Egypt got his unique name after his mom had a breakthrough moment while traveling in the country for work.